Trade treaty with Perú gets approval on initial reading

Lawmakers gave initial approval Monday to a trade treaty between Costa Rica and Perú.

Commerce officials see the treaty as another step toward becoming involved in the Pacific Alliance, a trading bloc that includes Perú, México, Chile and Colombia. The four countries of the alliance control more than a third of Latin America’s goods and services. Costa Rica just approved a treaty with Colombia, too.

Lawmakers heard that the treaty with Perú opens a market of some 30 million to Costa Rican exporters.

Costa Rica is likely to export palm products, meat and chocolates. Perú is ready to export to Costa Rica various fruits and vegetable products, which will be free of import duties.

The treaty was approved by the executive branch in May 2011.

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